Bill Text: TX SB1875 | 2021-2022 | 87th Legislature | Introduced
Bill Title: Relating to a requirement for a deed to include a statement regarding certain fraudulent conveyances or recordings.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2021-03-26 - Referred to Business & Commerce [SB1875 Detail]
Download: Texas-2021-SB1875-Introduced.html
87R12326 BEE-D | ||
By: Miles | S.B. No. 1875 |
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relating to a requirement for a deed to include a statement | ||
regarding certain fraudulent conveyances or recordings. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Subchapter A, Chapter 5, Property Code, is | ||
amended by adding Section 5.020 to read as follows: | ||
Sec. 5.020. STATEMENT REGARDING FRAUDULENT CONVEYANCES OR | ||
RECORDINGS. (a) A deed conveying an interest in real property | ||
located in this state must contain a statement that includes: | ||
(1) a list of offenses under the laws of this state | ||
relating to: | ||
(A) the fraudulent conveyance of an interest in | ||
real property; and | ||
(B) the fraudulent recording of a deed; and | ||
(2) the criminal penalties associated with offenses | ||
listed under Subdivision (1). | ||
(b) The supreme court by rule shall prescribe the form of | ||
the statement required under Subsection (a). | ||
SECTION 2. Chapter 12, Property Code, is amended by adding | ||
Section 12.020 to read as follows: | ||
Sec. 12.020. RECORDING OF CERTAIN DEEDS PROHIBITED. | ||
Notwithstanding any other law, a deed conveying an interest in real | ||
property located in this state may not be recorded in the real | ||
property records of a county unless the deed contains the statement | ||
required by Section 5.020. | ||
SECTION 3. Not later than December 1, 2021, the Texas | ||
Supreme Court by rule shall prescribe the form of the statement | ||
required by Section 5.020, Property Code, as added by this Act. | ||
SECTION 4. The changes in law made by this Act apply only to | ||
a deed executed on or after the effective date of this Act. A deed | ||
executed before the effective date of this Act is governed by the | ||
law as it existed immediately before the effective date of this Act, | ||
and that law is continued in effect for that purpose. | ||
SECTION 5. (a) Except as provided by Subsection (b) of this | ||
section, this Act takes effect January 1, 2022. | ||
(b) Section 3 of this Act takes effect September 1, 2021. |